Russian Defence Ministry says if Ukraine attempts to disrupt Victory Day celebrations, there will be a massive retaliatory missile strike on the centre of Kyiv, Interfax reports

The Russian Defence Ministry's threat of a "massive retaliatory missile strike" on Kyiv underscores escalating tensions ahead of Victory Day celebrations. This development may prompt heightened volatility in safe-haven assets like gold and the JPY, while likely impacting European geopolitical risk perception, which could pressure the euro amid energy market concerns. Watch for potential implications on commodity prices, especially in oil and natural gas, due to the broader geopolitical climate.